Credit Union Exam Solutions Presents With Flying Colors
GOVERNANCE ESSENTIALS: BUILDING AN EFFECTIVE ALCO COMMITTEE STRUCTURE
Jan 7, 2025
Todd Miller, a veteran with 34 years at the NCUA, shares valuable insights on building effective Asset and Liability Management Committees (ALCO) in credit unions. He discusses the importance of distinct committee charters, member selection, and how board involvement can enhance governance. The conversation also highlights the critical roles of the Chief Risk Officer and the necessity of robust documentation to align with strategic objectives. Miller emphasizes that a well-structured ALCO is key to managing risks and adapting to organizational needs.
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Quick takeaways
- Effective governance within ALCOs is crucial, as clear roles and responsibilities can streamline risk management processes and enhance financial stability.
- Selecting ALCO committee members requires balancing expertise and time commitments, ensuring that roles align with the credit union's operational needs and governance culture.
Deep dives
Maximizing Success with NCUA Examinations
Understanding the intricacies of NCUA examinations is crucial for credit unions. Utilizing the guidance of former NCUA experts provides significant advantages during these examinations, especially those facing upcoming or ongoing assessments. Having access to insider knowledge, such as understanding procedural expectations, helps credit unions navigate potential challenges before they escalate into major issues. Engaging experienced professionals ensures that credit unions can achieve optimal results, ultimately leading to passing their examinations confidently.
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